I’m seeing more sideways action on both Loonie pairs I’m watching these days, leading to a fresh batch of signals on this system. Take a look!
In this revised version of the Short-Term Bollinger Reversion Strategy, I’m waiting for RSI to cross above or below oversold or overbought levels to indicate a bit more momentum in the direction of the trade. Make sure you review the tweaks here.
USD/CAD had a short signal as price tested the upper Bollinger band then made its way to the middle.
While the pair did make its way to the opposite band later on, the short position was actually stopped out on that bounce to the adjusted stop at entry a few bars back. But hey, a win is a win!
CAD/CHF was a bit more busy as it caught a couple of signals. The pair snagged a long signal on a sharp bounce off the bottom band, which immediately hit the first target.
Price then went on to climb all the way to the top to hit its full PT! This was soon followed by a short signal that made it down to the middle band, too.
This pair scored quite the big win on its first position while the second one is still open and holding on to at least 6.5 pips with the stop rolled down to entry.
All in all, the system caught 82 pips or 1.64% for the past few days, not including the remaining short position on CAD/CHF. Not bad, eh?